What is Travel Insurance?
How often do you travel? Do you travel across the globe? Are you a globetrotter? Do you keep one bag eternally packed with your basic necessities because you might have to travel at any time? Your business trips only come at the last minute without much warning?
Well, in this case have you ever had a problem like:
- Your baggage was misplaced?
- Your passport was stolen?
- You missed your connecting flight because the previous one was delayed?
- You had to be admitted into a hospital while holidaying in Dubai?
- Someone from your office met with a fatal accident during your business trip to London?
- Your trip had to be cancelled due to bad weather and you suffered a loss at the flight and hotel reservation?
Travel Insurance has the solution to the all above problems. And that’s exactly what Travel Insurance means! Travel Insurance means insuring the risks of having a financial loss or a medical emergency while travelling. Travel Insurance can be temporarily purchased for a single trip. However for frequent fliers, Travel Insurance can be taken for a whole year and it suffices for ‘n’ number of trips throughout the year. Overseas student travel, business travel, leisure travel, adventure travel, cruise travel, and international travel are all various options that can be insured. The most common risks that are covered by overseas travel insurance are:
- Overseas Medical expenses
- Accidental death or injury
- Overseas funeral expenses
- Loss, theft or damage to personal possessions and money (including travel documents)
- Delayed baggage (and emergency replacement of essential items) or Loss of baggage
- Loss of passport
- Missed connecting flight due to delay
- Trip Cancellation expenses due to unforeseen weather conditions, etc.
- Overseas Dental Treatment
Some overseas travel policies will also provide cover for additional costs, although these vary widely between providers. The additional features provided by them are:
- Pre-existing medical conditions
- Travel to high-risk countries, in event of war or terrorism
- Death or accident due to overdose of drugs or alcohol
- Mental disorder, anxiety
If the above conditions are not specifically mentioned, they are usually a part of Exclusions. Insurance companies usually cover pregnancy related expenses within the first trimester; post which it varies from company to company. Overseas travel insurance can also provide helpful services, often 24 hours a day, 7 days a week that can includeÂ emergency travel assistance, booking of tickets, hotel assistance, etc. It is like a traveler’s friend in case of any unforeseen happening on the trip!